N500bn Empowerment Fund to target poor, vulnerable Nigerians — Buhari

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empowerment fund

N500bn Empowerment Fund to target poor, vulnerable Nigerians — Buhari

President Mohammadu Buhari says the Special Intervention Programme of his government will continue as an empowerment fund for the poor and vulnerable in the society and loans to small business owners.

The President stated this in his 59th independence day speech, adding that Government Economic Empowerment Programme, N-Power, Job Creation Programme, loans for traders and artisans, etc, are vehicles through which the intervention fund will be chanelled.

He says: “Our ongoing N500bn Special Intervention Programme continues to target vulnerable groups, through the home-grown School Feeding Programme, Government Economic Empowerment Programme, N-Power, Job Creation Programme, loans for traders and artisans, Conditional Cash Transfers to the poorest families and social housing scheme.

“To institutionalise these impactful programmes, we created the Ministry for Humanitarian Affairs, Disaster Management and Social Development which shall consolidate and build on our achievements to date. To the beneficiaries of these programmes, I want to reassure you that our commitment to social inclusion will only increase,” he adds.

He also said the newly set up Economic Advisory Council would advise him on inclusive and sustainable macroeconomic, fiscal and monetary policies.

Buhari also states that he had directed the release of N600bn for capital project implementation from the 2019 budget in the next three months.

He also said that as of June this year, total capital releases from the 2018 budget, stood at N1.74trn to underscore the commitment of his administration to build infrastructure and take Nigerians out of poverty.

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